Icahn's Departure Doesn't Ease Falcone's LightSquared Woesby
The flailing telecom company LightSquared received a weeklong extension from its creditors today, holding off bankruptcy yet again. But corporate raider Carl Icahn's patience has worn thin. Reuters reports that Icahn sold off his quarter of a billion dollars in debt holdings to Sound Point Capital. He turned a tidy profit, getting 60 cents on the dollar after paying 40 cents a few months ago.
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